Gravel-Driveway Industrial
For Sale
$120,000
510 1/2 23rd Street, Vienna, WV 26105
Industrial warehouse with access via gravel driveway off 22nd Street, suited for storage and light industrial use.
Property Size2,560 SF
Days on Market67
Property Features for 510 1/2 23rd Street
General Information
Standard status
Active
Size
2,560 SF
Taxes and HOA fees
Annual Taxes
$579
Amenities
Driveway, Unpaved
Building Details
Building Size
2,560 SF
Year Built
1960
Listing Agency:
EXIT Riverbend Realty
(304) 615-6250
Listed By:
Marian Duvall
(304) 615-6250
Source:
Evrealestate
Added: Jun 3
Changed: Aug 8
Last Checked: Jul 15 at 4:37PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of EXIT Riverbend Realty
Investment Insights
Based on property information with market context.
This property is an industrial warehouse offering practical enclosed space for commercial storage and light industrial needs. The site includes a gravel driveway that provides vehicle access to the property.
Access directions are available from RT 14 north from Downtown Parkersburg, with turns onto 22nd Street and 6th Avenue. The gravel driveway is located behind 510 23rd Street but is accessed off of 22nd Street.
For buyers seeking straightforward industrial space in Wood County, this warehouse configuration and driveway access support day-to-day use for operations that need reliable on-site staging and parking. The property is listed for sale at $120,000.
Access directions are available from RT 14 north from Downtown Parkersburg, with turns onto 22nd Street and 6th Avenue. The gravel driveway is located behind 510 23rd Street but is accessed off of 22nd Street.
For buyers seeking straightforward industrial space in Wood County, this warehouse configuration and driveway access support day-to-day use for operations that need reliable on-site staging and parking. The property is listed for sale at $120,000.
Key Highlights
- Industrial warehouse with access via a gravel driveway off 22nd Street
- Driveway parking: unpaved surface with driveway access
- Year built: 1960
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,846
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.04%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$216,920
$216.9K
Cap Rate 7%
$154,943
$154.9K
Cap Rate 9%
$120,511
$120.5K
Market Conditions
NOI Build-Up for 2,560 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$16.9K $6.60/SF
− Vacancy
−$1.4K −$0.55/SF
EGI
$15.5K $6.05/SF
− OpEx
−$4.6K −$1.82/SF
NOI
$10.8K $4.24/SF
Area
Wood County, WV
Vacancy
8.30%
Lease Rate
$6.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$216,920
Cap Rate 7%
$154,943
Cap Rate 9%
$120,511
Alternative Uses
Best Use
Warehouse
$188.1K
$164.6K – $219.5K
NOI $13,170 @ 7.0% cap · market cap 10.98%
Second Best
Industrial
$154.9K
$135.6K – $180.8K
NOI $10,846 @ 7.0% cap · market cap 9.04%
Theoretical Best
Office A
$705.7K
$617.5K – $823.3K
NOI $49,398 @ 7.0% cap · market cap 41.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
390
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 26105, WV
12,247
Population
5,861
Households
2.1
Avg Household Size
45
Median Age
31%
College-Educated
97%
High-School Grad
11.9 sq mi
ZIP Area
1,029
Density / Sq Mi
$65,549
Median Household Income
$40,233
Median Earnings
$859
Median Rent
$162,100
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
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Similar Off Market Nearby
- N-Focus Optical Lab — 500 17th St, Vienna, WV 26105
- Vienna Mini Storage — 503 21st St, Vienna, WV 26105
- Vienna Mini Storage — 1606 34th St, Vienna, WV 26105
- Cubesmart Self Storage — 500 17th St, Vienna, WV 26105
- Safe-N-Secure Storage — 3300 6th Ave, Vienna, WV 26105
Frequently Asked Questions
What type of property is this?
Warehouse - Industrial warehouse with access via gravel driveway off 22nd Street, suited for storage and light industrial use.
Where is this warehouse located?
The property is located at 510 1/2 23rd Street Vienna, WV.
What is the asking price?
The asking price for this property is $120,000.
What are key features of this property?
This property features: Industrial warehouse with access via a gravel driveway off 22nd Street; Driveway parking: unpaved surface with driveway access; Year built: 1960
